In addition to direct loans at banks or financial institutions, another popular form of borrowing money is borrowing money through the app, which is becoming a lifesaver for many people who have financial problems and need cash urgently.
Famous for its simple and quick advantage in the loan process, but besides that, around this form, there is still a lot of conflicting information about the safety or risks it can cause. In the article below, we will introduce one of the most popular loan applications today – Cashspace.
Table of Contents
What Is Cashspace?
CashSpace is an online lending intermediary for 24/7 transfers. That means CashSpace does not stand up to provide loans directly but only offers suitable loan proposals from the leading reputable financial names.
Licensed in early 2022, although still quite young, CashSpace completely scored with transparency, clarity, attractive terms policy, attentive and enthusiastic support, and loan approval characteristics—a high percentage. With the most heightened sense of responsibility, CashSpace has been the number 1 reputable partner for online unsecured loan packages.
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Pros And Cons Of Cashspace
Pros
Only recently launched, but the influence of CashSpace makes many competitors “beware” thanks to the favor in each attractive policy terms such as:
- The number of after-service satisfaction ratings comes from 312,000 customers up to now.
- On average more than 250 loans are supported per day.
- Easy approval rate up to 97%.
- Support fast application approval in just 15 minutes.
- Borrow money completely online 24/7, with unsecured loans, no guarantee for relatives, no collateral, and no complicated and confusing appraisal.
- The loan process and procedures are simple, easy, and shortened to the maximum.
- Support disbursing money within the day.
- Policies and documents are not complicated and easy to prepare.
- Easy and fast registration.
- It is accepted even in cases where getting a loan is difficult due to poor debt balance.
Cons
However, the regulations and implementation of fast loan products with CashSpace still face many obstacles and weaknesses, such as:
- The loan limit is still low, only suitable for small-scale and short-term use purposes.
- High-interest rate.
Limit, Interest Rate, Fast Loan Time With Cashspace
Limit
Regarding the disbursement limit, CashSpace stipulates the following:
- For customers experiencing the service for the first time, the maximum amount that can be borrowed ranges from 1,000 PHP – 25,000 PHP.
- The unit will favorably extend the loan limit for old customers, so the maximum amount will not exceed 28,000 PHP.
Interest Rate
Regarding interest rate regulations, loans will be charged 3.65 %/year on average. Still, there will be small fluctuations, with the interest rate margin not too different depending on each partner unit—loan and loan period.
Besides, CashSpace also supports new customers to experience their first loan with a 0% interest rate, helping users feel secure in using this unique loan service.
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Loan Time
Like many other online loan apps, the CashSpace loan period is relatively long, from 60 days to 90 days, helping customers plan payments and settle payments reasonably, limiting the amount of money available: maximum pressure or financial burden in the loan process.
See also: KPeso – Full Introduction & Review
Conditions And Procedures For Online Loans Cashspace
Conditions
An individual who wants to borrow money online with super-fast disbursement at CashSpace must ensure that they meet some basic conditions, such as:
- Borrowers with a job that brings a stable income are aged from 18 to 60 years old.
- Borrowers have a minimum income of 6,700 PHP per month.
- Borrowers have full personal papers, phone numbers, and bank accounts for transactions during the loan process.
- Customers with credit history: no bad debt, no low credit score.
Procedures
A standard loan application at CashSpace must include the following documents:
- Personal profile: ID card/CCCD/Passport, Household registration/KT3/Temporary residence.
- Portrait card photo.
- And some other documents on request from CashSpace.
How To Borrow Money From Cashspace
With the advantage of quick disbursement, the process of borrowing money at CashSpace is encapsulated in a few steps:
- Step 1: After researching and intending to participate in a loan, the first step is to access the official website of CashSpace: https://cashspace.ph/. Right at the main interface of the screen, you need to select the loan amount that suits your goal via the toolbar.
- Step 2: Immediately after that, you must complete the profile by providing basic information: full name, date of birth, email address, phone number, etc.
- Step 3: With the requirements and differences of each case, CashSpace will propose the most optimal products. Your task is to choose the appropriate loan package and press the “Receive money” button to wait for approval.
- Step 4: CashSpace will review the same day and send the results to your phone via SMS. Right after that, the money will be disbursed quickly to your account for spending and usage purposes.
- Step 5: Develop a reasonable spending plan and close the contract on time.
FAQs
Is It Possible To Borrow Money From Multiple Units At The Same Time?
CashSpace allows its customers to borrow money from multiple entities simultaneously, helping individuals increase their loan limit to cover personal financial problems.
Does Cashspace Charge A Service Fee?
You can rest assured to receive advice or support from CashSpace because this unit does not charge any service fees during the loan process.
What Partners Is Cashspace Associated With?
CashSpace is currently associated with AVAY, Findo, MonetyCat, OnCredit, Senmo, and ATM Online as an intermediary platform connecting customers with many reputable super-fast loan partners and credit institutions MoneyVeo, Doctor Dong, Robocash, and Takomo.
Conclusion
The article has summarized all the latest and most specific information on the attractive loan policy from CashSpace. Hopefully, the above information will help you in the loan process and in choosing a reputable lending partner.
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See also: Pondopeso: Trustful Financial Mobility
